Child Trust Fund
The Government originally set up the Child Trust Fund to encourage the next generation to build up their savings and help teach the benefits of investing for the future.
Every child born between 1st September 2002 to the 31 July 2010 was entitled to a voucher worth at least £250. If your family qualified for full Child Tax Credit, the voucher could have been worth a further £250. Every child born between 1st August 2010 to the 31 December 2010 was entitled to a voucher worth at least £50. If your family qualified for full Child Tax Credit, the voucher could have been worth a further £50. The Voucher would have been sent by HM Revenue & Customs to the person registered to receive Child Benefit.
With effect from 1 January 2011 the Government stopped issuing Child Trust Fund vouchers for children born after 31 December 2010. The Government has now introduced a Junior ISA (Individual Savings Account) for children who do not qualify for a Child Trust Fund account and this is available through our parent society The Oddfellows Friendly Society. Further information can be obtained by clicking here www.oddfellows.co.uk/JuniorISA#JISA
Investing into your Child Trust Fund....
Your Child Trust Fund (CTF), together with any additional contributions which may be made, will be professionally managed to try and ensure that your child has a useful nest egg at the age of eighteen. Currently the returns are free of income and capital gains tax, though this could change in future.